Core Viewpoint - The article discusses the challenges faced by Shimao Group regarding the recovery of 12 land parcels in Longgang, Shenzhen, with a compensation plan of 6.8 billion yuan, significantly lower than the original acquisition cost of approximately 23.9 billion yuan, raising concerns among investors about the project's viability and future returns [1][9][12]. Summary by Sections Land Recovery and Compensation Plan - Shimao Group's 12 land parcels, originally acquired for about 23.9 billion yuan, are set to be recovered by the Longgang district at a compensation price of 6.8 billion yuan, which is about 30% of the original cost [1][9]. - The compensation plan will be voted on by investors starting July 18, with a beneficiary meeting scheduled for the end of the month [1][2]. Investor Concerns and Voting Process - Investors have been informed that if the compensation plan is approved, they may receive approximately 85% of their principal by January 2027, but the repayment will be staggered [2][4]. - There is a possibility for investors holding over 10% of trust shares to propose a motion to suspend the voting on the compensation plan [2][3]. Project Background and Financial Status - The project was initially expected to mature in August 2022 but has faced liquidity issues since early 2022, leading to payment delays [3][4]. - As of June 2023, the trust principal balance for the project was 5.679 billion yuan, with around 800 individual investors involved [6][7]. Legal and Regulatory Challenges - Shimao Group has faced difficulties in obtaining necessary construction permits due to strict height regulations, which has stalled the development of the Shenzhen-Hong Kong International Center project [13][14]. - The group has initiated legal proceedings against the local government regarding the land transfer contract, which is still under review [14][15]. Future Implications - The outcome of the beneficiary meeting and the approval of the compensation plan will significantly impact the project's risk mitigation strategies and the potential recovery of investor funds [15][16]. - The trust has been exploring various options for asset recovery, including debt restructuring and judicial auctions, but has faced challenges due to the current real estate market conditions [15].